Case Study

In January 2009, Nortel’s publicly traded Canadian company entered a CCAA proceeding in Canada. The U.S. and European subsidiaries concurrently filed for bankruptcy and entered administration proceedings, respectively. The company sold substantially all of its operating businesses, generating more than US $7 billion in sale proceeds.

Chilmark was retained by Nortel Networks Inc., on behalf of all the U.S. Debtors, to provide financial advisory and consulting services necessary for resolving the case. Our services included:

Advising the U.S. Debtors regarding the allocation of the sale proceeds and other assets owned in multiple jurisdictions. Activities included negotiation with other estates and creditors regarding the allocation.

Resolution of intercompany disputes with various Nortel affiliates around the world, primarily other Nortel estates in administration proceedings in Europe and CCAA proceedings in Canada.

Communication and negotiation with creditors, official and ad hoc committees and their advisors and other Nortel estates.